Prudential ICICI is India’s number one mutual fund company

Prudential ICICI is India’s number one mutual fund company

Prudential ICICI Mutual Fund has become the largest mutual fund company in the Indian market.

The company has the largest mutual fund in the country having a record Assets under Management (AUM) of Rs 32,151-crore as per figures released by the Association of Mutual Funds of India (AMFI).

This means that they have now overtaken UTI Mutual Fund, with Rs 30,551-crore. Prudential ICICI gained from the strong net inflows of Rs 1,000-crore during May on the equity side.

The third spot is now held by Anil Ambani group company, Reliance Mutual Fund with assets under management of Rs 27,915-crore.

Pankaj Razdan, managing director, PruICICI AMC said in a statement on this development: “It is encouraging for us to see our efforts bearing fruit by way of consistency in our growth track-record and recognition of our performance. We will continue our endeavor to offer our investors quality service, innovative investment solutions, convenience in transaction and consistency in product performance.”